Soybeans opened Monday with 6-to-8-cent gains, retreating from earlier double-digit advances. The Barchart national average cash bean price rose 6½ cents to $12.30½. Soymeal futures were mixed, ranging from up $1.80 to down 40 cents, while soybean oil futures gained 104 points.
USDA reported a private export sale of 104,000 MT of soybeans to unknown destinations Monday morning.
Monday’s export inspections data showed soybean shipments of 1.138 MMT (41.83 million bushels) for the week ended October 1, up 45.3% from the prior week but 1.5% below the same week last year. China led destinations with 756,492 MT, followed by Algeria at 126,680 MT and Bangladesh at 59,219 MT. Year-to-date marketing year shipments reached 3.986 MMT (146.5 mbu), 30.9% ahead of last year’s pace.
Large managed money speculators held a net long position of 241,164 contracts in soybean futures and options as of Tuesday, down 23,877 contracts for the week primarily through long liquidation. Spec funds in soybean meal expanded their record net long by 15,048 contracts to 207,416 contracts as of September 29.
Brazil’s soybean crop was 7.3% planted as of Thursday, lagging behind 9% last year, according to AgRural. The country’s soybean production estimate was raised 0.1 MMT to 182.7 MMT.
Futures prices: November 2026 soybeans at $12.85, up 6¾ cents; nearby cash at $12.30½, up 6½ cents; January 2027 at $13.01¾, up 7¼ cents; March 2027 at $13.12¼, up 7½ cents.
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